Company No: 15557027 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2026		31.03.2025
		£		£
Fixed assets
Tangible assets	3	17,011		5,012
		17,011		5,012
Current assets
Debtors	4	59,859		10,229
Cash at bank and in hand		38,594		3,717
		98,453		13,946
Creditors: amounts falling due within one year	5	( 50,406)		( 21,449)
Net current assets/(liabilities)		48,047		(7,503)
Total assets less current liabilities		65,058		(2,491)
Provision for liabilities	6	( 2,403)		0
Net assets/(liabilities)		62,655		( 2,491)
Capital and reserves
Called-up share capital	7	166		100
Profit and loss account		62,489		( 2,591 )
Total shareholders' funds/(deficit)		62,655		( 2,491)

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of TSF IF Limited (registered number: 15557027) were approved and authorised for issue by the Board of Directors on 01 October 2026. They were signed on its behalf by:

Mr A D Anderson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

TSF IF Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 48 Cambridge Road, Southport, PR9 9PP, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company was incorporated on 12 March 2024 and began to trade shortly thereafter with the prior year being first year accounts for an extended period of 13 months to 31 March 2025. The current period spans the 12 months from 1 April 2025 to 31 March 2026 therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of consultancy services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	20 % reducing balance
Plant and machinery etc.	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Year ended 31.03.2026		Period from 12.03.2024 to 31.03.2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2025	0		5,097		5,097
Additions	7,562		7,563		15,125
At 31 March 2026	7,562		12,660		20,222
Accumulated depreciation
At 01 April 2025	0		85		85
Charge for the financial year	1,086		2,040		3,126
At 31 March 2026	1,086		2,125		3,211
Net book value
At 31 March 2026	6,476		10,535		17,011
At 31 March 2025	0		5,012		5,012

4. Debtors

	31.03.2026		31.03.2025
	£		£
Trade debtors	0		8,992
Amounts owed by Group undertakings	1,142		0
Amounts owed by related parties	1,988		0
Other debtors	56,729		1,237
	59,859		10,229

5. Creditors: amounts falling due within one year

	31.03.2026		31.03.2025
	£		£
Trade creditors	8,086		440
Taxation and social security	40,206		772
Other creditors	2,114		20,237
	50,406		21,449

6. Provision for liabilities

	31.03.2026		31.03.2025
	£		£
Deferred tax	2,403		0

7. Called-up share capital

	31.03.2026		31.03.2025
	£		£
Allotted, called-up and fully-paid
150 Ordinary shares of £ 1.00 each (31.03.2025: 100 shares of £ 1.00 each)	150		100
16 Ordinary A shares of £ 1.00 each (31.03.2025: nil shares)	16		0
	166		100

8. Financial commitments

Commitments

	31.03.2026		31.03.2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	58,750		71,875

9. Related party transactions

Transactions with the entity's directors

	31.03.2026		31.03.2025
	£		£
Amounts owed by Directors	54,840		0

The balance is unsecured, bears interest at 3.75% per annum and is repayable on demand.

Other related party transactions

	31.03.2026		31.03.2025
	£		£
Amounts owed to related parties	0		(18,438)
Amounts due from related parties	3,130		0

The amounts due are interest free and repayable on demand.